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Wednesday, 30 October 13
DRY BULK MARKET HAS LOST FURTHER GROUND THIS PAST WEEK - INTERMODAL
 Chartering (Wet: Firm+ / Dry: Stable-)
The Dry Bulk market has lost further ground this past week, as de-creased activity in both basins for both Capes and Panamaxes was only partly offset by the stable performance of Supras and Handies.
The BDI closed today (29/10/2013) at 1,551 points, down by 68 points compared to Monday’s levels (28/10/2013) and a decrease of 296 points com-pared to the previous Tuesday’s levels (22/10/2013). Weak activity in the North Sea pushed Afra rates down, while the rest of the crude carriers market moved up, with sentiment improving considerably. The BDTI Monday (28/10/2013), was at 599 points, a decrease of 22 points and the BCTI at 484, a decrease of 14 points compared to the previous Mon-day’s levels (21/10/2013).
Sale & Purchase (Wet: Stable+ / Dry: Stable+)
The SnP market has maintained the good volumes of activity that we have been seeing lately.
Irrespective of any volatility that might be witnessed by freight rates in the short term, we expect an active Q4 in terms of second hand sales as more owners appear ready to bet on a market recovery being noted over the next couple of years. On the tankers side, we had the sale of the “CHAMPION PEACE” (106,042dwt-blt 99, Japan), which was picked up by S. Korean buyer Sinokor for a price of US$ 11.0m. On the dry bulker side, we had the sale of the “HOUHENG 3” (179,895dwt-blt 12 Philippines) which was picked up by Greek buyers for a price of $ 52.0m.
New building (Wet: Stable+ / Dry: Stable+)
Despite firm interest for new orders continuing to hold for yet another week, shipyards are still holding a reserved optimism for the future prospects, while continuing to squeeze the most out of this most recent opportunity, rather than making grand plans for capacity expansion. We have already seen shipbuilders purposely contain the number of slots they have available focusing on efficiency, as such, leaving the market with almost no slots with delivery within the next 12-18 months. At the same time there has been a constant and significant rise in the prices being quoted, especially for the more popular dry bulk vessel designs. It is interesting to note that we have seen a considerable price increase of between 5-11% amongst dry bulk slots over the past four months alone, while tankers have only noted a 1-4% rise during the same period. In terms of new orders, Greek owner Golden Union, was reported exercising options for two Capesize vessels (180,000dwt) at Hanjin in Philip-pines, for a price of $ 54.5m each and with delivery towards the end of 2015.
Demolition (Wet: Stable+ / Dry: Stable-)
The demolition scene continues to face slow activity. The short list of deals that were reported this past week doesn’t include neither India nor Bangladesh, as breakers in both these countries seem to be sitting in the sidelines at the moment. In India it appears that cash buyers who managed to secure tonnage during the previous weeks are currently assessing whether this was a good move, as the sentiment is not as strong as it has been in the beginning of the month. Pakistan on the other hand has secured another VL, after the 95 built DELOS the week prior, proving that for the “right” tonnage local breakers are still pre-pared to pay the extra premium. In the East, Chinese breaking yards have lowered their bids even further this week, being less and less ap-pealing for owners of demo candidates that are ballasting in the region, as the trip towards the Indian sub-Continent is still very much worth the trouble. Average prices this week for wet tonnage were at around 350-425$/ldt and dry units received about 340-410$/ldt.
Compiled by:
Intermodal Research & Valuations | research@intermodal.gr
Analysts:
Mr. George Lazaridis | g.lazaridis@intermodal.gr
Ms. Eva Tzima | e.tzima@intermodal.gr
Disclaimer and legal disclosure: For any further queries please do not hesitate to contact our Research & Valuations Department. The information contained in this report has been obtained from various sources, as reported in the market. Intermodal Shipbrokers Co. believes such information to be factual and reliable without making guarantees regarding its accuracy or completeness. Whilst every care has been taken in the production of the above review, no liability can be accepted for any loss or damage incurred in any way whatsoever by any person who may seek to rely on the information and views contained in this material. This report is being produced for the internal use of the intended recipients only and no re-producing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
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Friday, 07 March 14
INDONESIA TO PRODUCE 421 MMT OF COAL IN 2014
Coalspot.com: Indonesia finally agreed to increased 2014 coal output by as much as 6 percent to 421 million metric tons from its previous plan, a se ...
Friday, 07 March 14
US PRODUCED 19.4 MMST OF COAL IN PAST 7 DAYS, SAYS EIA
COALspot.com – United States the world’s second largest coal producer, produced approximately 19.4 million short tons (mmst) of coal in ...
Thursday, 06 March 14
PANAMAX MARKET IS STRUGGLING IN BOTH HEMISPHERES - FEARNRESEARCH
Handy
The Handy/Supra market experienced a rate increase in the Pacific. The activity itself is not too big, but spot tonnage is clearing up and ow ...
Wednesday, 05 March 14
THE BIG BULKERS HAVE IN FACT WITNESSED SIGNIFICANT IMPROVEMENTS IN BOTH BASINS
The BDI continues to gain back some of the lost ground, although in reality there isn't a lot to celebrate abou ...
Wednesday, 05 March 14
LEAVE IT TO CAPES TO CHANGE THE DIRECTION OF THE DRY BULK MARKET - INTERMODAL
Chartering (Wet: Stable- / Dry: Stable+)
Leave it to Capes to change the direction of the Dry Bulk market. The big bulkers managed to drag the BDI ...
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- Mjunction Services Limited - India
- European Bulk Services B.V. - Netherlands
- Mintek Dendrill Indonesia
- Simpson Spence & Young - Indonesia
- Karaikal Port Pvt Ltd - India
- PTC India Limited - India
- Meenaskhi Energy Private Limited - India
- SMG Consultants - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Iligan Light & Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Economic Council, Georgia
- Riau Bara Harum - Indonesia
- Savvy Resources Ltd - HongKong
- ICICI Bank Limited - India
- Larsen & Toubro Limited - India
- Indian Oil Corporation Limited
- The State Trading Corporation of India Ltd
- Orica Australia Pty. Ltd.
- Bukit Baiduri Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sojitz Corporation - Japan
- The Treasury - Australian Government
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kaltim Prima Coal - Indonesia
- Eastern Energy - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Bangladesh Power Developement Board
- Coastal Gujarat Power Limited - India
- Edison Trading Spa - Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Bhushan Steel Limited - India
- OPG Power Generation Pvt Ltd - India
- Aditya Birla Group - India
- GN Power Mariveles Coal Plant, Philippines
- Merrill Lynch Commodities Europe
- Price Waterhouse Coopers - Russia
- Kideco Jaya Agung - Indonesia
- Tata Chemicals Ltd - India
- White Energy Company Limited
- Africa Commodities Group - South Africa
- Energy Development Corp, Philippines
- PNOC Exploration Corporation - Philippines
- ASAPP Information Group - India
- Marubeni Corporation - India
- South Luzon Thermal Energy Corporation
- Kobexindo Tractors - Indoneisa
- Salva Resources Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Ministry of Mines - Canada
- Heidelberg Cement - Germany
- CNBM International Corporation - China
- Ministry of Transport, Egypt
- Ministry of Finance - Indonesia
- India Bulls Power Limited - India
- Parry Sugars Refinery, India
- Ind-Barath Power Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kalimantan Lumbung Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Thai Mozambique Logistica
- Meralco Power Generation, Philippines
- Antam Resourcindo - Indonesia
- Uttam Galva Steels Limited - India
- GVK Power & Infra Limited - India
- Vedanta Resources Plc - India
- Indogreen Group - Indonesia
- Orica Mining Services - Indonesia
- Minerals Council of Australia
- Xindia Steels Limited - India
- Interocean Group of Companies - India
- IHS Mccloskey Coal Group - USA
- Sical Logistics Limited - India
- Toyota Tsusho Corporation, Japan
- TNB Fuel Sdn Bhd - Malaysia
- Rio Tinto Coal - Australia
- Posco Energy - South Korea
- Cement Manufacturers Association - India
- Standard Chartered Bank - UAE
- Semirara Mining Corp, Philippines
- Essar Steel Hazira Ltd - India
- Australian Coal Association
- Directorate Of Revenue Intelligence - India
- Chamber of Mines of South Africa
- Jindal Steel & Power Ltd - India
- Sree Jayajothi Cements Limited - India
- Barasentosa Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bukit Makmur.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Miang Besar Coal Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Agrawal Coal Company - India
- Directorate General of MIneral and Coal - Indonesia
- CIMB Investment Bank - Malaysia
- PowerSource Philippines DevCo
- Jaiprakash Power Ventures ltd
- Kartika Selabumi Mining - Indonesia
- IEA Clean Coal Centre - UK
- Maheswari Brothers Coal Limited - India
- Borneo Indobara - Indonesia
- Lanco Infratech Ltd - India
- Timah Investasi Mineral - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Australian Commodity Traders Exchange
- Rashtriya Ispat Nigam Limited - India
- VISA Power Limited - India
- Georgia Ports Authority, United States
- Bukit Asam (Persero) Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- Vizag Seaport Private Limited - India
- Power Finance Corporation Ltd., India
- Oldendorff Carriers - Singapore
- Tamil Nadu electricity Board
- Samtan Co., Ltd - South Korea
- Sakthi Sugars Limited - India
- Straits Asia Resources Limited - Singapore
- Aboitiz Power Corporation - Philippines
- Wilmar Investment Holdings
- Binh Thuan Hamico - Vietnam
- Global Coal Blending Company Limited - Australia
- Siam City Cement - Thailand
- Mercator Lines Limited - India
- Coal and Oil Company - UAE
- Sindya Power Generating Company Private Ltd
- Kepco SPC Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- SMC Global Power, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Anglo American - United Kingdom
- Bhoruka Overseas - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parliament of New Zealand
- Manunggal Multi Energi - Indonesia
- Electricity Authority, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Trasteel International SA, Italy
- Kapuas Tunggal Persada - Indonesia
- London Commodity Brokers - England
- Global Business Power Corporation, Philippines
- Indika Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bhatia International Limited - India
- Videocon Industries ltd - India
- Therma Luzon, Inc, Philippines
- Coalindo Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Grasim Industreis Ltd - India
- Medco Energi Mining Internasional
- Electricity Generating Authority of Thailand
- Thiess Contractors Indonesia
- AsiaOL BioFuels Corp., Philippines
- Planning Commission, India
- Energy Link Ltd, New Zealand
- Indo Tambangraya Megah - Indonesia
- Star Paper Mills Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Madhucon Powers Ltd - India
- Attock Cement Pakistan Limited
- MS Steel International - UAE
- Carbofer General Trading SA - India
- Indonesian Coal Mining Association
- Holcim Trading Pte Ltd - Singapore
- Mercuria Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- LBH Netherlands Bv - Netherlands
- Eastern Coal Council - USA
- Bulk Trading Sa - Switzerland
- Leighton Contractors Pty Ltd - Australia
- McConnell Dowell - Australia
- Formosa Plastics Group - Taiwan
- The University of Queensland
- Independent Power Producers Association of India
- Baramulti Group, Indonesia
- Globalindo Alam Lestari - Indonesia
- Malabar Cements Ltd - India
- Dalmia Cement Bharat India
- Banpu Public Company Limited - Thailand
- Intertek Mineral Services - Indonesia
- Makarim & Taira - Indonesia
- Ambuja Cements Ltd - India
- Romanian Commodities Exchange
- GMR Energy Limited - India
- Goldman Sachs - Singapore
- Latin American Coal - Colombia
- Central Electricity Authority - India
- PetroVietnam Power Coal Import and Supply Company
- Altura Mining Limited, Indonesia
- Chettinad Cement Corporation Ltd - India
- Indian Energy Exchange, India
- Petron Corporation, Philippines
- Deloitte Consulting - India
- New Zealand Coal & Carbon
- Commonwealth Bank - Australia
- Gujarat Sidhee Cement - India
- Port Waratah Coal Services - Australia
- San Jose City I Power Corp, Philippines
- Renaissance Capital - South Africa
- SN Aboitiz Power Inc, Philippines
- Wood Mackenzie - Singapore
- Central Java Power - Indonesia
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